Forest Components makes aircraft parts. The following transactions occurred in July.

1. Purchased $119,000 of materials on account.

2. Issued $117,600 in direct materials to the production department.

3. Issued $8,400 of supplies from the materials inventory.

4. Paid for the materials purchased in transaction (1) using cash.

5. Returned $15,400 of the materials issued to production in (2) to the materials inventory.

6. Direct labor employees earned $217,000, which was paid in cash.

7. Purchased miscellaneous items for the manufacturing plant for $120,400 on account.

8. Recognized depreciation on manufacturing plant of $245,000.

9. Applied manufacturing overhead for the month.

Forest uses normal costing. It applies overhead on the basis of direct labor costs using an annual, predetermined rate. At the beginning of the year, management estimated that direct labor costs for the year would be $3,000,000. Estimated overhead for the year was $2,790,000.

The following balances appeared in the inventory accounts of Forest Components for July.

	Beginning			Ending
Materials Inventory		?			$88,200
Work-in-Process Inventory		?			73,500
Finished Goods Inventory		$18,200			49,700
Cost of Goods Sold		?			521,500

Required:

a. Prepare journal entries to record these transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.

mostly need help with b

Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Work-In-Process Inventory Beg. bal. 1. Materials Inventory 79,800 0 119,000 117,600 Beg. bal. 2. 1. 15,400 8,400 3. 553,000 Transferred to Finished Goods 0 0 2. 217,000 15,400 End. bal. 88,200 201.810 End. bal. 149,590 Manufacturing Overhead Control Applied Manufacturing Overhead Beg. bal. Beg. bal. 8,400 120,400 245,000 End. bal. 0 End. bal. 373,800 Accounts Payable Cash Beg. bal. Beg. bal Fodbol